FX.co ★ Technical Analysis of Daily Price Movement of Index of USD Currency, Monday January 6 2023.

With the appreance of Bearish 123 pattern followed by the breakout below Hook (RH) as well as price movement from USDX on its daily chart, it is confirmed that Seller still dominates the price movement from US Dollar Currency Index where in the near future USDX seems to be trying to test the 101.27 level as its first target and the 97.66 level will be the second target if momentum and volatility are supportive and if there is no upward correction movement that exceeds the 103.90 level, if this level is successfully penetrated upwards then there is a high probability that a price decline scenario from USDX will potentially become invalid and cancel by itself.

(Disclaimer)